The emergency law passed by Parliament on Sunday March 22 allows the government to legislate by ordinance. A text from the Ministry of Labor, which will be examined Wednesday in the Council of Ministers, provides for an extension of the deadline for payment of bonuses and employee participation.
Faced with the coronavirus epidemic, the government passed a health emergency law this Sunday, March 22. A text that authorizes the executive to take measures to support businesses and employees by ordinance. Moreover, as of this Wednesday, March 25, 25 ordinances will be presented to the Council of Ministers. One of them, which is not necessarily good news for employees, concerns the payment of profit-sharing and participation bonuses this year.
Normally, these bonuses must be paid by the company at the latest on the first day of the sixth month following the end of the financial year. As the latter usually takes place on December 31, the payment of these premiums must therefore be made on May 31 of the following year, at the latest. However, under current circumstances, it is more complex for companies (and for employee savings account holders) to meet this deadline this year.
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By order, the Ministry of Labor therefore plans to allow all companies with an employee savings plan to defer the payment of these premiums. It will still have to be carried out “in the course of 2020”, specifies the entourage of the ministry. In other words, the payment deadline is postponed to December 31, 2020. But don't worry, only the payment date can be changed by your company. The amount of your premiums will not change! Payment will be made according to the sums recorded before the current crisis.